Tom Richman in Creators of the New Economy hypothesizes that what has really occurred is that entrepreneurism has changed dramatically from amateurism to what he terms the professional entrepreneur.
What he is seeing is an evolution in entrepreneurism, not only because motivation from downsizing is putting more talented people out of work, but also because of the opportunities available from globalization and the virtual marketplace. Many very skilled people are joining the entrepreneurial ranks, raising the level of business knowledge and skill.
He distinguishes the following differences between the two:
| Amateur Entrepreneur | Professional Entrepreneur |
| Local | Global |
| Snap Decisions | Consensus |
| Heart | Market |
| Lone Ranger | Networker |
| Knockoffs | Innovations |
| Idea | Execution |
| Knows the Trade | Knows the Business |
| Secretive | Open |
| Novice | Veteran |
| Self-reliant | Inquisitive |
| Pro-phobe (dislikes professionals) | Pro-phile |
| Start-up | Start-up or Whatever |
| Organizationally Orthodox | Organizationally Innovative |
| Trade Association Member | Web Surfer |
| Self-sufficient | Virtual |
| Think Small | Think Big |
| Small-business Founder | Entrepreneur |
| Seat-of-the-pants | Business Plan |
| Boss | Leader |
| Male | Mixed |
| Supportive Spouse at Home | Spouse Runs Own Business |
| Automation | Innovation |
| Intuition | Education |
| Research Backwater | Research Mainstream |
| Price Takers | Value Makers |
| Personal Financial Plan is the Business | Business is Part of Personal Finance Plan |
| Art | Science |
| Equity= Control | Performance=Control |
| Company | Career |
The clear conclusion from all this is that entrepreneurism is a dynamic, developing part of the economy at this time in history. Entrepreneurism itself is emerging and maturing. What it will be as a mature contributor to the economy is yet to be determined, but certainly innovation, knowledge and globalization are important factors.
